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Growth | 11 August 2016

11 August 2016, USD/JPY

The four-hours chart of USDJPY . The pair is still above the reversal level (1/8). Earlier it stopped at this level, there was a and rebound after a rather strong downward movement. It is a signal of possible reversal of the price targeting the main level of support and resistance (4/8). We expect a workout of this reversal pattern. Continuation of the downward movement will again be relevant only in the event of breakdown and consolidation of the pair below (1/8).

Solutions: keep yesterday's purchase. Goal is the same - on the main level of support and resistance 103.13 (4/8).

Vasiliy Lukin
FreshForex Analyst
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